"Lunch at the Mart, Shopping with Closing Discounts"... Soaring Prices, Changed Grocery Shopping Habits

Instantly Prepared Products and Convenience Store Lunchboxes Sell Like Hotcakes
"Affordable Prices and a Variety of Menus to Choose From"
End-of-Day and Subscription Discount Services Popular at Convenience Stores

As dining-out prices rise, sales of ready-to-eat meals have increased at supermarkets and convenience stores. The photo shows a citizen shopping at a convenience store in Gangnam-gu, Seoul.
[Image source=Yonhap News]

[Asia Economy Reporter Park Hyun-joo] Recently, more people have been turning to convenience foods at supermarkets or convenience stores to settle their meals, or seeking discounted products nearing their expiration dates. This is analyzed as a response by citizens facing increased burdens due to rapidly rising food and dining prices, leading them to cut living expenses.

According to the distribution industry on the 26th, sales at deli corners selling ready-to-eat products in supermarkets have increased. From the 18th of last month to the 17th of this month, lunch-time (11 a.m. to 2 p.m.) sales at Homeplus deli corners rose by 49% compared to the same period last year. During the same period, lunch-time sales at Emart and Lotte Mart deli corners increased by 6.6% and 10%, respectively, compared to last year.

The industry sees this as a result of increased demand from office workers who can choose from a variety of menus at relatively affordable prices. As dining-out prices rise, some office workers have turned to supermarket deli corners to save on lunch expenses.

Convenience store lunchbox sales have also surged. GS25's lunchbox sales from the 1st to the 7th increased by 49.8% compared to the same period last year. CU's lunchbox sales last month rose by 33.7% compared to the same period last year.

Consumers seeking to purchase products nearing their expiration dates at discounted prices have also emerged at convenience stores. CU's end-of-day discount sale 'Green Save' saw a 17.3% increase in usage in June compared to last year, and GS25's end-of-day discount service usage in June grew by 282.6% year-on-year. Last month, Seven Eleven's 'Last Order' usage increased by 20% compared to last year, while Emart24's Last Order service rose by 122% during the same period.

Consumers looking for closing discount products at marts or convenience stores have increased. The photo shows citizens shopping at the food section of a mart in Seoul.
[Image source=Yonhap News]

In response, convenience stores are selling subscription services that offer discounts on frequently purchased items for a monthly fee. CU launched a 'Subscription Coupon Service' where customers can select categories such as lunchboxes and salads and pay between 1,000 to 4,000 won to receive discounts a set number of times per month. GS25 operates a paid membership service called 'The Pop Plus,' which offers major products at 20-25% discounted prices. Seven Eleven and Emart24 also provide discount subscription services for items like sandwiches, instant coffee, and ice cups.

According to Emart24, the usage of discounted subscription services for easy-to-eat foods increased by 62% compared to the previous month in June. Especially from the 1st to the 20th, usage jumped 133% compared to the same period last month. Customers using the subscription service were mostly in their 20s and 30s (48%), followed by those in their 40s (34%).

Meanwhile, according to the National Statistical Portal (KOSIS) of Statistics Korea, the dining-out price index for the first half of this year (January to June) rose by 6.7% compared to the cumulative total last year. Looking at individual items, the price of pork belly, a representative affordable dining-out menu, increased by 7.4%, and prices of beef (8.5%) and pork ribs (7.9%) also rose. Prices of summer health menus such as Samgyetang (ginseng chicken soup) (4.4%) and cold noodles (7.6%) also increased.

The government expects the inflation trend to peak as early as September or as late as October. On the 25th, Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho said at a press conference at the Government Sejong Complex, "Considering the current oil price trends and various situations, I think the price peak will be around the end of September or, at the latest, October."

He added, "However, this is based on the external condition that oil prices do not rebound or surge again due to issues like Russia, and that difficulties in grain and supply chain supply do not worsen significantly beyond the current state."

This content was produced with the assistance of AI translation services.